HK Stock Market Move | HORIZONROBOT-W(09660) fell by nearly 13% in early trading, and will enter the constituent stocks of the Heng Ke Index next month. The lock-up period for shareholders will expire at the end of April.

HORIZONROBOT-W (09660) dropped nearly 13% in early trading, falling 8.71% to HK$8.81 as of press time, with a turnover of HK$393 million. On the news front, on February 21, Hang Seng Index Company announced the latest quarterly review results, with Horizon Siasun Robot & Automation being included in the Hang Seng Technology Index constituents, with the adjustment taking effect from March 10, 2025. Goldman Sachs stated that the inclusion of Horizon in the Hang Seng Technology Index is expected to help further reevaluate its valuation. The bank pointed out that Horizon Siasun Robot & Automation's "Journey 6" series is benefiting from the smart driving trend led by BYD Company Limited, and is expected to be beneficial for the upgrading of Horizon's product portfolio and diversification of customers. Lehman Brothers released a report stating that Horizon Siasun Robot & Automation's stock price has more than doubled since the beginning of the year, with the market valuation logic shifting from the price-to-sales ratio (PS) of comparable companies to the company's own long-term potential. The bank expects short-term catalysts to include more original equipment manufacturers' design orders, the completion of the ARVR packaging for the J6P chip, the release of Horizon SuperDrive, and the latest developments in Horizon's humanoid Siasun Robot & Automation. Lehman also cautioned about the potential impact of the end of the lock-up period for institutional shareholders after the listing (April 24th this year).